More People Than Ever Checking Credit Records

global credit squeeze is bad news for all, it has increased business for the credit reference agencies as more people realize the importance of having up-to-date credit record, according to leading financial comparison website.

...

As a result of chasing the better deals credit cards no longer use the scattergun approach to applying for the card number at the same time, as they understand the devastating effect that their credit score. Instead, they have become selective about which card to apply for, making their chances for success much higher.

The financial comparison web site also benefit from this increase in consumer awareness. They are used more widely as people compare rates and deals available from a credit card company. Instead of visiting a number of different web sites to track the best deal, comparison sites offer the best deals on one page, with links to the relevant credit card issuer to the visitor wishes to apply. If the applicant clicks on the link and then be issued with a credit card financial comparison site will earn a commission on that sale.

But it's not just people who want to be savvy to the need to ensure that their credit record is accurate, those looking for a new mortgage or unsecured loan is also wising the facts. Even those who are looking for contract mobile phones will also be subject to a credit check and so it really is best if their record is up-to-date and accurate.

with much tighter lending restrictions in place, many people who do not turn down instead of being offered a loan at a much higher rate than in previous years. This is because, despite two Bank of England base rate reduction over the past few months credit card interest rates are not reduced by the issuers wanting to improve profitability.

with much tighter lending restrictions in place, many people who do not turn down instead of being offered a loan at a much higher rate than in previous years. This is because, despite two Bank of England base rate reduction over the past few months credit card interest rates are not reduced by the issuers wanting to improve profitability.

...